Chana futures remain weak on subdued demand

Chana prices were down by 0.40 per cent to Rs 4,762 per quintal in futures trade today as speculators indulged in reducing positions, driven by sluggish demand in the spot market.
However, expectations of lower output restricted the fall,
At National Commodity and Derivative Exchange, chana for delivery in July month declined by Rs 19, or 0.40 per cent to Rs 4,762 per quintal with an open interest of 64,210 lots.
Similarly, the commodity for delivery in June contracts shed Rs 15, or 0.32 per cent to Rs 4,668 per quintal in 1,14,770 lots.
Analysts attributed the fall in chana futures to subdued demand in the spot market against sufficient stocks.